If you are a broker, people leave. Period. No one is 100% for more than a year or two. People die, people move, people get rid of cars and homes, etc. To think you can keep your policy count and customer count growing is a better goal than keeping 100% of your customers. Often they leave without warning. This hurts, sometimes. But, most of us maintain customers because the effort to switch doesn’t match either
An adjustment I made, likely starting in 2013 was to try and get as much as you reasonable can get out of the time you are using. The key, as I learned, was to be reasonable.
I’ll 100% not get crazy over a few dollars or percentage difference in price if I save time. Time is the most critical piece. But, as time really tightens up it is even more critical to choose activities where I get more out of the transaction.
The big difference between this in 2012 and today is the level is higher
Don’t sell me……….Help me buy
I’m not about to say “selling is dead” or something silly like that. What I am saying is being a resource beats being a salesperson. Do you know things that can help the person buy today? YOU BETTER. How about so things look better in 6,12, 18 months and beyond? I REALLY HOPE SO. Are you willing to let them go now because your sale today actually doesn’t help the person you are taking money from? YES
You can insert your own example of my microwave/hood combo. This week it was a charitable thing that has yet to put an easy PayPal link on their website. I’m not against paying you, but I need a way to do it and YOU NEED TO ASK.
It has been six years and I have yet to hear anyone say ” Please sell me insurance…” yet unfortunately many are still trying to do it, still. Sad, but on the other hand, those of us that are helping people buy are likely as busy as us.
When paying attention to #insurtech things I have a basic thought process. Essentially looking at how I can apply it to our customers and then scale. Second is can it hit the three silos of sales/marketing, underwriting, claims. It is a “buying process at that point. I’ve already made up much of my mind on what I am looking for…at least currently.
Life philosophies can adjust. It’s tough to think that any day you wake up doesn’t have some element of great to it. Although I really do not remember who I was referencing six years ago, I think I do and just the possibility of who it is makes me smile.
Ten or so years ago I started to realize I could work with anyone. Then, this adapted a little to
As long as they are nice to me and the people I work with
The biggest difference in what I am writing today and what I wrote in September 2012 is that I have not had this discussion with a current or potential customer in 5ish years. Why? Because I finally realized this is not a discussion worth having. Period.
I was always doing things better, now there is a team of us doing things better. What was once a theory is now completely proven out. We stick to several simple themes, one of the main ones being; Our Goal is simple, to improve your coverage and improve your rate, ideally both.
On the other hand, it is disappointing to know that although the industry has advanced, it really hasn’t. The excuses are still the same. The lack of interest in the customer is still there.
But what has changed? In theory, there are more tools today to help you “review” your auto and home insurance. In reality, they may connect to more companies but the tools are not much better. Carriers are spending more to find people instead of spending more to keep people.
The overall financial system we are in is fascinating. Tough to say that the good the insurance piece of this system is helping or hurting more. Yes, it allows entrepreneurship to flourish. Yes, it is the underlying fabric of the entire financial system. But, on the other hand, we do a lot of work in the personal insurance and micro-commercial space(think 1-5 employees 6 but rarely 7 figure sales). This is where you see the dysfunction shine.
THERE IS NO PRACTICAL OR IMPRACTICAL WAY TO COVER YOURSELF FROM EVERYTHING.
6 years later and this is still completely true. Period. A recent example that isn’t hotdogs;
Was in a position where I needed to buy a car. There were three specific add-ons “sales” that fall into the logic versus fear category. I applied logic and bought none of them. One even had a complete rack of brochures, a clever desk mat and a goofy coffee cup that mimics spilled coffee. You can actually buy coverage for the day to day messes that a car may experience.